Political change in US and Europe has ‘blindsided’ risk managers: survey

Political change in US and Europe has ‘blindsided’ risk managers: survey

Political change in US and Europe has ‘blindsided’ risk managers: survey

Unexpected political movements in Europe and the US during 2017 have “blindsided” global companies, with nine out of ten executives reporting an increase in geopolitical risks in the past five years, according to a survey from Willis Towers Watson and Oxford Analytica. The survey found that unpredictable political change in the US and Europe has rocked the business world and…

Hiscox appoints former director of GCHQ as cyber adviser

Hiscox appoints former director of GCHQ as cyber adviser

Hiscox appoints former director of GCHQ as cyber adviser

Hiscox has appointed Robert Hannigan, the former director of UK intelligence and security agency GCHQ, as special adviser on cybersecurity. Hiscox UK & Ireland said Mr Hannigan will work with its cyber specialists to develop cyber products and educate staff and clients about managing cyber risks. Mr Hannigan will also advise on how emerging threats and criminal techniques could impact…

Energy-related risk manager group launches

Energy-related risk manager group launches

Energy-related risk manager group launches

A new group for oil, gas and renewable energy-related risk managers is being formed by the Institute of Risk Management (IRM). The initiative is launching with a LinkedIn survey, which is open until 2 October, polling the views and concerns of risk managers across the energy spectrum. Project leader Alex Larsen, CEO of Baldwin Global, explained that the survey is…

Modern slavery risk rises in EU

Modern slavery risk rises in EU

Modern slavery risk rises in EU

Modern slavery risk has risen in 20 of the 28 European Union member states over the last year with the bloc recording the highest rise of any region in the world, according to new research from Verisk Maplecroft. Verisk Maplecroft’s second annual Modern Slavery Index (MSI) suggests that European business must do more to tackle modern slavery and pay closer…

Ransomware attacks impact corporate earnings

Ransomware attacks impact corporate earnings

Ransomware attacks impact corporate earnings

The financial cost and extent of business interruption caused by recent ransomware attacks has been laid bare over the past month as several corporates have reported “material” losses. The WannaCry and NotPetya ransomware attacks affected organisations around the world in May and June of this year, with the latter appearing more disruptive for business. NotPetya caused significant disruption for service…

Risk managers warned of the common characters involved in money laundering

Risk managers warned of the common characters involved in money laundering

Risk managers warned of the common characters involved in money laundering

Money laundering is said to represent the fifth largest economy in the world and equates to 3% of global GDP. Defence and security organisation BAE Systems believes there are six criminal types responsible for money laundering around the world. It has set out the groups to help global businesses understand the motivations and modus operandi of criminals targeting their business.…

Law firms start to offer new cyber services

Law firms start to offer new cyber services

Law firms start to offer new cyber services

Two London law firms are to offer clients new technology-related services to steer risk managers and their organisations through the emerging risks. Clyde & Co has launched what it claims to be “an innovative new consultancy to advise insurers and clients in other sectors on all aspects of the burgeoning new area of smart contracts, blockchain and distributed ledger technologies”.…

Comoros joins Afreximbank

Comoros joins Afreximbank

Comoros joins Afreximbank

Comoros has become the latest African state to join the African Export-Import Bank (Afreximbank). The bank said the decision takes it one step closer to full coverage of the African continent. Comoros activated its membership as Afreximbank’s 46th participating state on 12 September when Said Ali Said Chayhane, the minister of finance and budget, signed the instrument of accession to…

South Africa mirrors global trend on unemployment risk

South Africa mirrors global trend on unemployment risk

South Africa mirrors global trend on unemployment risk

South Africa has reflected global concerns in citing unemployment as its larget risk, according to a new survey from the World Economic Forum (WEF). Publishing its Global Risks Report in partnership with Zurich Insurance and Marsh & McLennan, the WEF said societal risks also scored highly and cyber risks are becoming more important to the 12,400 executives from 136 countries…

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Global business leaders have named economic risks – specifically unemployment in first place, followed by fiscal crises – as the top threats facing their organisation for the next ten years, according to a new survey by the World Economic Forum (WEF). Publishing its Global Risks Report in partnership with Zurich Insurance and Marsh & McLennan, the WEF said societal risks…

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